Short Interest in Melcor Developments Ltd. (OTCMKTS:MODVF) Rises By 300.0%

Melcor Developments Ltd. (OTCMKTS:MODVF) was the target of a large growth in short interest in December. As of December 15th, there was short interest totaling 32 shares, a growth of 300.0% from the November 30th total of 8 shares. Based on an average daily volume of 192 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 192 shares, the days-to-cover ratio is currently 0.2 days.

Melcor Developments Price Performance

Shares of Melcor Developments stock traded up $0.19 during trading on Thursday, hitting $11.18. 1,619 shares of the stock were exchanged, compared to its average volume of 1,342. The firm’s 50-day moving average price is $10.68 and its 200 day moving average price is $10.59. Melcor Developments has a 12-month low of $8.17 and a 12-month high of $11.18.

About Melcor Developments

Melcor Developments Ltd (OTCMKTS: MODVF) is a Canadian real estate development and property management company headquartered in Edmonton, Alberta. The firm specializes in master-planned residential and commercial communities, offering land development, construction, leasing and property management services. Its diversified portfolio encompasses single-family lots, multi-family residential projects, shopping centres, industrial parks and office complexes.

Originally founded in 1923 as a contracting business serving western Canada, Melcor transitioned into land development in the mid-20th century and went public on the Toronto Stock Exchange in 1968.